Nazara to acquire 69.82% stake in Publishme for about Rs 20 crore

Nazara Technologies on Thursday announced that it has signed a binding term sheet to acquire a majority stake in Arrakis Tanitim Organizasyon Pazarlama San. (Publishme).

The diversified gaming company will invest an approximate amount of Rs 20 crore for acquiring 69.82% stake by way of primary and secondary transaction through its subsidiary. With this acquisition, Nazara expands its international footprint in the freemium segment. Nazara will aim to build local execution capabilities cutting across key growth segments namely, freemium, gamified learning and esports.

Publishme is a full-service games marketing and publishing agency which works extensively with gaming publishers in Turkey and the MENA (Middle East & North African) region.

Nazara Founder & joint MD, Nitish Mittersain said, MENA is a key geography for us and this acquisition will help us in establishing ourselves as a key player in the region.

Shares of Nazara Technologies were trading 1.71% lower at Rs 1,635.35 on BSE.

Nazara Technologies is a diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, esports and gamified learning ecosystems.

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